The Nigerian Naira maintained relative stability against the United States Dollar across the official and informal currency segments.
Data from the official Nigerian Foreign Exchange Market (NFEM) showed the Naira trading around N1,331.09 per Dollar during early morning spot trading. Intra-day figures indicate sustained steady trading bounds, driven by consistent foreign exchange liquidity injections and elevated external reserve levels supporting Central Bank of Nigeria interventions.
In the parallel market, street currency operators and Bureau De Change dealers across major commercial centers in Lagos and Abuja quoted buying rates between N1,355 and N1,365 per Dollar. Selling rates in the parallel channel ranged between N1,375 and N1,390 per Dollar, keeping the premium spread between official and informal channels narrow.
Market analysts attribute the stable spread to moderated speculative activity and steady FX inflows across the domestic market.
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